My best guess (and not a very educated one) is that the 05 - 07 models are the 997.1. As with any make/model, regardless of marque, the first generation models tend to depreciate at a higher rate than compared to the late model years.
Case in point, the 996 suffered from sharp depreciation for reasons beyond my comprehension. Could it be the IMS fear mongering or the fact that purists disliked it because Porsche as a business decided to move on to watercooling, a major step and perhaps even a slap to the face to aircooled enthusiasts.
On to the practical side, perhaps these models tend to have their quirks, and perhaps owners aren't willing to spend any more money into their vehicles, hence dumping them on the market at low prices and to move on to a shinier, newer car. This is just my personal opinion only.
I managed to get a late model year 996 for a mere $31, 500 CDN with 53, 400km on the clock with a full maintenance history. The early model 996.1 went for a lot less, about $10,000 less, but also had more mileage on the clock. In a perfect world, it would be a level playing field when it comes to price, but sadly, this is not the case. It was either a 996 or a high-mileage E46 M3 with a whack load of maintenance items to take care of for $25K!
I am happy with my purchase!
